Olympic Boroughs News

Olympic Boroughs News

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Waltham Forest

Yearly growth to June 2014: 28.1%
Yearly growth to June 2013: 4.6%
Difference in growth: 23.4%

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Tower Hamlets

Yearly growth to June 2014: 20.9%
Yearly growth to June 2013: 3.0%
Difference in growth: 17.9%

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Lambeth

Yearly growth to June 2014: 26.8%
Yearly growth to June 2013: 9.8%
Difference in growth: 17.0%

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Lewisham

Yearly growth to June 2014: 22.0%
Yearly growth to June 2013: 6.3%
Difference in growth: 15.6%

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Newham

Yearly growth to June 2014: 15.8%
Yearly growth to June 2013: 0.7%
Difference in growth: 15.1%

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Southwark

Yearly growth to June 2014: 23.0%
Yearly growth to June 2013: 8.5%
Difference in growth: 14.5%

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Haringey

Yearly growth to June 2014: 21.8%
Yearly growth to June 2013: 7.5%
Difference in growth: 14.3%> View current property prices in Haringey

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Ealing

Yearly growth to June 2014: 18.3%
Yearly growth to June 2013: 4.1%
Difference in growth: 14.2%

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Hackney

Yearly growth to June 2014: 25.5%
Yearly growth to June 2013: 12.1%
Difference in growth: 13.5%

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Croydon

Yearly growth to June 2014: 15.3%
Yearly growth to June 2013: 2.6%
Difference in growth: 12.7%

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Hammersmith & Fulham

Yearly growth to June 2014: 21.6%
Yearly growth to June 2013: 9.0%
Difference in growth: 12.6%

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Enfield

Yearly growth to June 2014: 13.4%
Yearly growth to June 2013: 1.9%
Difference in growth: 11.5%

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Bromley

Yearly growth to June 2014: 14.9%
Yearly growth to June 2013: 3.9%
Difference in growth: 11.0%

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Wandsworth

Yearly growth to June 2014: 21.8%
Yearly growth to June 2013: 11.1%
Difference in growth: 10.8%

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City Of Westminster

Yearly growth to June 2014: 17.8%
Yearly growth to June 2013: 7.1%
Difference in growth: 10.7%

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Islington

Yearly growth to June 2014: 18.6%
Yearly growth to June 2013: 7.9%
Difference in growth: 10.7%

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Bexley

Yearly growth to June 2014: 10.8%
Yearly growth to June 2013: 0.6%
Difference in growth: 10.2%

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Havering

Yearly growth to June 2014: 11.8%
Yearly growth to June 2013: 2.0%
Difference in growth: 9.8%

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Kingston Upon Thames

Yearly growth to June 2014: 15.8%
Yearly growth to June 2013: 6.1%
Difference in growth: 9.7%

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Greenwich

Yearly growth to June 2014: 14.1%
Yearly growth to June 2013: 4.8%
Difference in growth: 9.3%

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Richmond Upon Thames

Yearly growth to June 2014: 16.0%
Yearly growth to June 2013: 7.2%
Difference in growth: 8.8%

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Sutton

Yearly growth to June 2014: 12.6%
Yearly growth to June 2013: 4.9%
Difference in growth: 7.6%

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Barnet

Yearly growth to June 2014: 11.6%
Yearly growth to June 2013: 4.2%
Difference in growth: 7.4%

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Barking And Dagenham

Yearly growth to June 2014: 13.3%
Yearly growth to June 2013: 6.2%
Difference in growth: 7.1%

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Merton

Yearly growth to June 2014: 16.6%
Yearly growth to June 2013: 9.7%
Difference in growth: 6.9%

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Harrow

Yearly growth to June 2014: 10.4%
Yearly growth to June 2013: 4.7%
Difference in growth: 5.7%

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Kensington And Chelsea

Yearly growth to June 2014: 15.1%
Yearly growth to June 2013: 9.8%
Difference in growth: 5.3%

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Hillingdon

Yearly growth to June 2014: 9.3%
Yearly growth to June 2013: 5.0%
Difference in growth: 4.3%

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Camden

Yearly growth to June 2014: 14.9%
Yearly growth to June 2013: 11.1%
Difference in growth: 3.8%

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Brent

Yearly growth to June 2014: 10.9%
Yearly growth to June 2013: 7.1%
Difference in growth: 3.7%

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Redbridge

Yearly growth to June 2014: 8.3%
Yearly growth to June 2013: 4.8%
Difference in growth: 3.5%

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Hounslow

Yearly growth to June 2014: 8.0%
Yearly growth to June 2013: 6.0%
Difference in growth: 2.0%

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The study, by Savills, is based on the latest Land Registry data and shows prices in Waltham Forest grew only 4.6 per cent in the 12 months to June last year. In the 12 months that followed, however, they rocketed 28.1 per cent.

Annual growth in Tower Hamlets was up 17.9 per cent, while Newham, the main Olympic host borough, saw a 15 per cent increase in price growth. Hackney was also one of London’s top 10 performers with 13.5 per cent.

Right at the bottom of the table, Hounslow saw growth slow to just two per cent year on year, from six per cent last year to eight per cent by June this year, while prime London boroughs are also starting to plateau. Kensington and Chelsea, for example, saw growth of 9.8 per cent to June last year and 15.1 per cent to this June, an increase of 5.3 per cent, making it one of the worst performers.

The study was carried out by Sophie Chick, an associate in Savills’ residential research department. “The locations at the top of the table are those which have really started to take off in the last year,” she says. “They are mainly London’s lower-value locations and it’s probably a ripple effect out of more expensive areas.”

While today’s figures show that every borough saw stronger growth in the last year than in the 12 months before, it is worth pointing out that Land Registry figures are based on deals struck around six months ago.

Most recently, growth is slowing significantly in prime central London as the strong pound drives out overseas buyers while Londoners wait to see who wins the general election next year, fearing a mansion tax on properties worth more than £2 million.

Chick also believes growth is slowing in the mainstream market. “These areas do tend to depend on mortgage finance and the Mortgage Market Review has tightened rules on lending,” she said. “I don’t think we will see prices start to fall in the lower-priced areas, but I do think that growth will become more constrained, particularly if interest rates rise.”